GOLD may be biased to the upside in the medium term but faces pullback risk after rejecting higher prices on Friday. On the downside, support comes in at the 1,420.00 level where a break will turn attention to the 1,410.00 level. Further down, a cut through here will open the door for a move lower towards the 1,400.00 level. Below here if seen could trigger further downside pressure targeting the 1,390.00 level. Conversely, resistance resides at the 1,430.00 level. Further out, resistance resides at the 1,440.00 level where a break will aim at the 1,450.00 level. A turn above there will expose the 1,460.00 level. Further out, resistance stands at the 1,470.00 level. All in all, GOLD looks to strengthen further in the short term.GOLD may be biased to the upside in the medium term but faces pullback risk Click To Tweet
GOLD Backs Off Higher Prices On Pullback
by Mohammed Isah | July 22nd, 2019
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
RGet 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
RStay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
RWhether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.